The crypto markets turned dark red once more, with the number of liquidated traders nearing 300,000.
Terra continues to lead the market-wide correction as LUNA has plummeted below $1, meaning a weekly drop of almost 99%. Bitcoin and the altcoins are also in the red, with the total liquidations exceeding $700 million on a daily scale.earlier today that the cumulative market capitalization of all cryptocurrency assets had lost over $400 billion in less than a week, dropping to a 10-month low of $1.350 trillion.
The landscape has only worsened since then as BTC failed at $31,000 and started dumping once more. Minutes ago, the primary cryptocurrency charted its latest low since July 2021 of $29,000 . As it typically happens, the altcoins are in no better shape. Just the opposite, Ethereum is down by 10% to below $2,200, BNB is beneath $300 , While Solana, Avalanche, Polkadot, Dogecoin, and many others have lost over 20% on a daily scale.saga that unfolded
in the past week or so, leading to UST de-pegging from its supposed price of $1, meant that users could profit by arbitraging LUNA. Thus, the selling pressure propelled a massive price slump for LUNA, which dumped below $1 earlier today. Just for reference, the asset traded at $90 six days ago. This means it has lost about 99% of its value in less than a week.
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